Dimensional Fund Advisors LP Has $302.74 Million Position in Devon Energy Co. (NYSE:DVN)

Dimensional Fund Advisors LP reduced its stake in Devon Energy Co. (NYSE:DVN - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,250,864 shares of the energy company's stock after selling 29,988 shares during the period. Dimensional Fund Advisors LP owned approximately 1.41% of Devon Energy worth $302,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hurley Capital LLC acquired a new stake in shares of Devon Energy during the fourth quarter worth approximately $26,000. Cromwell Holdings LLC increased its holdings in Devon Energy by 98.0% during the 4th quarter. Cromwell Holdings LLC now owns 1,208 shares of the energy company's stock valued at $40,000 after purchasing an additional 598 shares in the last quarter. Sierra Ocean LLC bought a new position in Devon Energy in the 4th quarter valued at $43,000. Endeavor Private Wealth Inc. acquired a new position in Devon Energy in the fourth quarter worth $52,000. Finally, Thompson Investment Management Inc. grew its holdings in shares of Devon Energy by 60.0% during the fourth quarter. Thompson Investment Management Inc. now owns 1,600 shares of the energy company's stock worth $52,000 after purchasing an additional 600 shares during the last quarter. 69.72% of the stock is owned by institutional investors and hedge funds.

Devon Energy Stock Up 1.3 %

Shares of NYSE:DVN traded up $0.40 during trading on Thursday, hitting $31.48. 2,995,813 shares of the company's stock traded hands, compared to its average volume of 8,492,354. The company has a current ratio of 1.04, a quick ratio of 1.01 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average price of $33.70 and a 200-day moving average price of $35.60. Devon Energy Co. has a 52 week low of $25.89 and a 52 week high of $53.20. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.50.

Devon Energy (NYSE:DVN - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The energy company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.16. Devon Energy had a net margin of 18.14% and a return on equity of 22.52%. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.25 billion. As a group, research analysts forecast that Devon Energy Co. will post 4.85 EPS for the current fiscal year.

Devon Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Friday, March 14th. This is a boost from Devon Energy's previous quarterly dividend of $0.22. Devon Energy's dividend payout ratio is 21.05%.

Wall Street Analysts Forecast Growth

DVN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price target on Devon Energy from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Williams Trading set a $50.00 target price on shares of Devon Energy in a research note on Wednesday, March 5th. Scotiabank decreased their price target on shares of Devon Energy from $45.00 to $35.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Wolfe Research upgraded shares of Devon Energy from a "peer perform" rating to an "outperform" rating and set a $45.00 price objective for the company in a research report on Friday, January 3rd. Finally, Cowen lowered Devon Energy to a "hold" rating and decreased their price objective for the company from $46.00 to $45.00 in a research report on Tuesday, February 18th. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $44.83.

Devon Energy Company Profile

Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.